26th August 2011
FOR IMMEDIATE RELEASE
AGA RANGEMASTER GROUP PLC
2011 HALF-YEARLY FINANCIAL REPORT
STREAMLINED PROCESSES BRING IMPROVED PROFIT PERFORMANCE
AGA Rangemaster Group plc ('the Group'), the specialist in range cooking and kitchen living, is pleased to announce its interim results for the half year ended 30th June 2011.
Financial and operational highlights
Ø Operating profit increased to £2.9 million (half year 2010: £0.8 million).
Ø Net cash at 30th June 2011 of £25.2 million (30th June 2010: £22.4 million).
Ø Launch of AGA Total Control key to future growth prospects for cast iron cookers.
Ø Rangemaster remains a clear UK market leader and exports were a record 27% of cooker sales.
Ø Improved performance at AGA Marvel, Grange and Fired Earth.
Ø Interim dividend up by 14% to 0.8 pence.
"In these tough market conditions we are encouraged by the performance of our market leading products. Whilst recent events suggest an even tougher autumn ahead, the second half should see the impact of newly launched products gather pace. Most significantly the AGA Total Control will be a factor in driving UK sales performance and its European launch is scheduled for this autumn. The Group is confident that it is well positioned to be a major beneficiary of any upturn in consumer confidence because of the investment in product and the operational gearing of the business."
Full Press Release
William McGrath, Chief Executive
020 7404 5959 (today)